PM Modi releases coin in honour of Jamsetji Tata

Praises Jamsetji for his vision of environment-friendly energy and initiatives for welfare of people associated with the Tata Group

Prime Minister Narendra Modi on Tuesday released a commemorative coin in honour of Jamsetji Tata, popularly known as father of modern Indian industry, on his 175th birth anniversary. Paying tributes to Tata, Modi said, "Those who create history, without seeking or holding power, are truly great".

He also praised Jamsetji for his vision of environment-friendly energy and initiatives for welfare of people associated with the Tata Group. The culture of businessmen donating massive amounts in charity was new to the Western world but Jamsetji had done it long ago, the PM added.

Jamsetji is the first industrialist felicitated by the government in such a manner. He founded Tata Group, India's largest business conglomerate. He was born on March 3, 1839, in Navsari, in south Gujarat.

Jamsetji founded the Tata Group in 1868. He worked for building India that would be an industrial power. The translation of his vision led to creation of India's first integrated steel plant (Tata Steel's Jamshedpur plant - 1907), hydroelectric power plants that service Mumbai's needs till today (Tata Power's Khopoli plant - 1910), and the Indian Institute of Science (1909).

The government had earlier honoured Jamsetji by releasing postal stamps, one in 1958 and another in 1965.

Speaking on the occasion, Chairman of Tata Sons Cyrus P Mistry said Jamsetji's focus was two-pronged, each equally important and interconnected. "The first was industrialisation of the country and building the requisite human capital. The second was conducting business in a fashion that positively impacted the quality of lives of the people it touched," he said.